Consumer Affairs Victoria has ordered an independent audit of foundation after it failed to lodge key financial documents by a deadline towards the end of 2015.

Warne told News Corp a "malicious campaign" had damaged his foundation's reputation. It was also reported that the former Australian spinner has cancelled a key poker tournament fundraiser scheduled for next weekend and is considering winding up the charity following allegations of mismanagement.

"Anyone can look at our books and what we've done over 12 years, we have absolutely nothing to hide," Warne was quoted as saying in 'Herald Sun'. "We are under attack despite doing nothing wrong, I along with the board and all our ambassadors devote our time for free to raise funds. "I've put over USD 150,000 of my own money into the foundation and never received a cent. I'm spending four to five hours a day on the foundation ... and getting grief for it," he added.